Zcash (ZEC) surged over 40% in one day, nearing $100, driven by new exchange integrations and discussions on privacy coins.
This surge highlights growing interest in privacy coins amid regulatory debates, impacting cross-chain liquidity and prompting notable market reactions.
ZEC Price Boosted by THORSwap Integration
The rise in Zcash’s price primarily followed THORSwap’s support for ZEC swaps, allowing trade with BTC, ETH, and SOL. The Electric Coin Company, Zcash’s developer, facilitated this enhancement, attracting cross-chain liquidity.
THORSwap’s new feature signifies a shift towards improved privacy in cryptocurrency exchanges, a move that increases user utility and network versatility for ZEC traders, aligning with heightened privacy expectations.
THORSwap Team "Full native support for Zcash swaps is live—connect your wallet, trade ZEC cross-chain, and preserve your privacy."
Privacy Coins in the Spotlight as ZEC Gains
The 40% surge of ZEC places it in focus as traders seek privacy solutions—boosting mention across social media and driving trading volumes upwards. Market observers note the potential for further gains if privacy trends persist.
The crypto industry faces a renewed emphasis on privacy amid debates over digital identity surveillance, influencing trader sentiment. This trend pushes privacy coins like Zcash to the forefront of speculative and practical trading strategies.
Past Market Trends Highlight Privacy Coin Potential
Historically, privacy coins have seen price increases during privacy-related public discourse, as demonstrated by previous market trends involving Monero and Dash.
Should privacy coins continue their ascent, experts suggest further integration strategies and network adaptations may sustain their competitive edge, highlighting the industry's evolving nature.